‘This Week’ Transcript: Donald Trumphttp://abcnews.go.com/Politics/week-transcript-donald-trump/story?id=38951757STEPHANOPOULOS: You say fixing the economy is your number one priority as president. And your tax plan is your more substantive and specific proposal out there. You said recently again that you believe in raising taxes on the wealthy, including yourself, but your plan gives a massive tax cut to the wealthy. How do you square that?
TRUMP: It gives a massive tax cut to everybody. If you look at Larry Kudlow, he said it's a great plan. He loves the plan.
STEPHANOPOULOS: But more to the wealthy than everyone else.
TRUMP: ...George. And I'll say this to people, I've said it many times. I make deals. I negotiate. I put out a plan that has a massive, massive tax -- bigger than any other candidate. We have to negotiate with congress. You know, I'm not going to be able to say, like, President Obama let's do an executive order, OK. It would be wonder, it would be a lot easier, but you just can't do it when you're not supposed to do it.
He may do something -- and what he's done will probably -- much of it will be overturned by the courts. What I'm doing is I'm putting in a plan and that's my maximum plan. It's what I want.
STEPHANOPOULOS: But bottom line, do you want taxes on the wealthy to go up or down?
TRUMP: They will go up a little bit. And they may got up, you know...
STEPHANOPOULOS: But they're going down in your plan.
TRUMP: No, no, in my plan they're going down, but by the time it's negotiated, they'll go up.
Look, when I'm negotiating with the Democrats, I'm putting in plan. I'm putting in my optimum plan. It's going to be negotiated, George, it's not going to stay there. They're not going to say there's your plan, let's approve it. They're going to say, let's see what we can do.
Now, it will be a negotiation. I will try and keep everything -- what I really want is lower on business, because business -- we're the highest taxed nation in the world. And I want lower in the middle class. The middle class in this country is getting decimated. I want -- and I will fight like hell for that.
STEPHANOPOULOS: But people like (INAUDIBLE)...
TRUMP: I don't mind playing...
(CROSSTALK)
STEPHANOPOULOS: -- dichotomy.
TRUMP: I don't mind paying more tax, I'll be honest with you. I don't mind paying more tax. I've done very well over the last 40 years.
STEPHANOPOULOS: But under your plan, you pay less taxes.
TRUMP: But under my plan, it's going to be negotiated. What I'm saying is I will be submitting something like what I did in terms of concept -- because it's just a concept, George.
You know, we're putting in the policy, we're putting in a statement. It's a concept.
And I'll tell you what the real concept is. Lower taxes for business, lower taxes for the middle class, lower taxes for everybody and then we're going to start negotiating.
So if I want to get lower taxes, which is very important for me, I'm not going to put in high taxes and I'm not even going to put in what I necessarily want. I'm going to put in lower than I want and we're going to negotiate.
STEPHANOPOULOS: But in the end, will someone like me or Donald Trump pay more under your tax plan?
TRUMP: I have a feeling we may pay some more. But I'll tell you, the middle class is going to pay a lot less. And I wouldn't mind paying more, George. We've got to do something. I mean I wouldn't mind paying more.
But business will pay less. The middle class will pay less. We're going to bring in our money. You know, the corporate inversion is what's going on is incredible, with the companies leaving. But we have trillions of dollars outside of the country. We have a 10 percent tax on that money. Right now, they can't bring it back in. And by not bringing it back in, George, that's a disaster.
STEPHANOPOULOS: So is that something you're ready to negotiate with the Democrats, even though you're calling for (INAUDIBLE)...
TRUMP: No, but, you know, that -- on that, on the money...
STEPHANOPOULOS: (INAUDIBLE).
TRUMP: -- on the trillions that are out there...
STEPHANOPOULOS: No, on the taxes on the wealthy.
TRUMP: Everybody -- please...
STEPHANOPOULOS: -- you're saying you're willing to pay more.
TRUMP: I'm -- I am willing to pay more.
And do you know what?
The wealthy are willing to pay more. We've had a very good run. You know, we hear all about Obama. We hear all about -- we've had a very good run.
STEPHANOPOULOS: So that would be a big change from your plan.
TRUMP: No, it's not a change, George. It's a negotiation. Remember this, if I could get my plan approved the way it is nice I would be very happy. It's not going to happen, because we have a lot of people that are going to be negotiating this and they don't -- they don't do very well.
The world -- if you look at the United States with tax plans, not a lot happens. It just sort of stays the same. It's a big quagmire.
One of the things I'm getting is big simplification. We're getting the lower rates. We're getting a lot of things. But we're getting massive simplification. We're getting rid of carried interest, which is, you know, not going to make hedge fund people happy.
STEPHANOPOULOS: (INAUDIBLE). But those people are actually going to be paying fewer -- less taxes under your plan because even though you're getting rid of the loophole, you're taxing it as regular income,
TRUMP: We're getting rid of the loophole -- yes, but George, but let...
STEPHANOPOULOS: It's going to go down from 23 to 15 percent.
TRUMP: George, by the time it gets negotiated, it's going to be a different plan. And, you know, I like to be -- I like to have my cards on the table. We're going to submit the optimum. That's what I'd like to get and we'll fight for it.
But from a practical standpoint, it's going to get re-negotiated, and, in my opinion, the taxes for the rich will go up somewhat.
